Are You Ready for Foodservice?

If you are considering foodservice, do your homework. As Bill Reilly, Chief Marketing Officer for The Spinx Company explained, “You really need to consider if you want to be in the restaurant business, because, while it can increase profits when done right, it takes a serious commitment to forge into this new line of business.”

Food service can drive new profits for the right locations. However it takes careful evaluation and the right fit. These are all important questions to consider before jumping in.

What has the research told you? Do the research. Do you have a market to support food service? Locations around schools and hospitals are best.

Where will you find your greatest success? Why are you considering food service? Is there a compelling reason for food service to be successful at your location?

Whose full-time job will it be? Getting this off the ground and running is going to be more than a full-time job for someone. Who will it be? Do they have experience managing food service?

What space can you commit to this? Do you have the space? If not, what are you willing to give up to make space?

Which executive will be the sponsor? Who will champion and watchdog this project?

Will it fit your culture, structure and accounting? This is not an add-on business. Are you prepared for the administration and management it will require?

What menu will give you the greatest success? Consider your market demographics and your competition.

What hours will you operate? How will you manage staffing?

What will you budget to advertise? You are going up against some very powerful brands that have been doing this well for a long time. Are you prepared to compete with those marketing and advertising budgets?

What is the ROI? Would it be better to partner with a national brand and lease the space out?